Brooklyn, NY — $1,580,000 Warehouse Cash-Out Refinance
A $1,580,000 cash-out refinance on an inherited Brooklyn warehouse, underwritten on market rent despite no formal rent roll or lease.
$1,580,000
Loan Amount:
LTV %:
50%
Brooklyn
City:
Warehouse
Property Type:
Cash-Out Refinance
Transaction Type:
A borrower inherited a Brooklyn warehouse from a family member roughly a year prior and occupied it through their operating business. Because the real estate entity and the operating business weren't properly separated on paper, rental income was reported through the operating company — so the property appeared to generate no rental income, with no documented rent roll or executed lease agreement. Traditional lenders typically won't underwrite that kind of file.
Essencap evaluated the property on market rent and market value rather than tax-return presentation, requiring no rent-roll verification and no lease agreement — underwriting the transaction on the strength of the real estate itself.
Essencap financed $1,580,000 in cash-out refinancing at 50% loan-to-value, letting the borrower leverage the property's value without restructuring their business entities.
Related Case Studies
